National Institute of Securities Markets (NISM) is a premier institute established by the Securities and Exchange Board of India (SEBI), the regulator for securities markets in India. The institute carries out a wide range of capacity building activities at various levels aimed at enhancing the quality standards in securities markets. 


NISM currently offers a two-year Post Graduate Program in Securities Market {PGDM (SM)} and a one-year full-time Post Graduate Certification in Securities Market (PGCSM). It also conducts capacity building programs among the stakeholders in the securities markets through professional education, financial literacy, enhancing governance standards and fostering policy-based research in Securities Markets. Further, the Institute is in the process of introducing various full time / part time courses in the areas of Quantitative Finance, Financial Engineering, Risk Management, Data Science, Treasury Management, Securities Law, Fin-Tech and other areas relevant to the securities market. 


Currently, NISM is functioning from its state-of-the-art campus on a 70-acre plot of land at Patalganga (around 45 minutes’ drive from Vashi, Navi Mumbai). 


For more details, please visit NISM’s website - www.nism.ac.in.


NISM encourages research in the field of securities markets and is looking for “Research Associates” to conduct full-time research on its behalf. In this context, applications are invited from interested eligible candidates, as under:



A Research Associate is expected to work on a research project assigned to him/her. The Research associate needs to undertake a research project by selecting a topic from out of the list of topics enclosed at Annexure - I and submit a paper /case / project within the time limits set by NISM. If the research work leads to a written case study, the Research Associate will have to prepare the teaching note and other supporting material, as required. The Research Associate shall work under the guidance of an assigned faculty of NISM.



  1. Candidates applying as Research Associates should possess a post graduate or equivalent degree in the area of Finance / Economics / Statistics / Econometrics / CA / CS / ICWA / graduate in Engineering or Law. 
  2. Research scholars who are currently enrolled for doctoral / fellowship programmes with recognized universities/reputed institutes and are interested in conducting research in specific topics identified by NISM may also apply.


  • Understanding of Securities Markets
  • Understanding of Research Methodology 
  • Excellent Written and Oral Communication skills
  • Good statistical and analytical ability 
  • Hands-on experience in writing suitable computer programs or working on SPSS or such other statistical packages is desirable 


The engagement shall be on a contractual basis for a period of 4 months. The concerned NISM faculty and the research associate shall present the progress of the work to a Research Advisory Committee (RAC) at least two times in the duration of 4 months and take feedback from the committee. If the committee is not satisfied with the progress, engagement of the research associate may be terminated at any time during this four month period. 


Remuneration shall be based on successful completion of the project.

  1. An award of ₹ 60,000/- will be awarded to the Research Associate, of which 75%, i.e. ₹ 45,000/- will be paid on successful completion of the research project. In this regard, successful completion would mean submission of paper to the RAC and also to a journal which is part of ABDC category or Scopus listed and acceptance of the work by RAC as successful completion. The balance ₹ 15,000 will be paid on acceptance of the paper for publication by the journal. 
  2. The RA will be paid an out of pocket expense ₹ 5,000 per month during the four months of project work, if he / she is required to stay in the campus. However, if the project work is extended beyond four months due to any reason, this amount shall not be payable.
  3. The RA may be permitted to stay in the hostel and avail of boarding and lodging facilities during the four months. The same will be extended to the RA based on recommendation by the faculty guide. 
  4. NISM may advise the RA to write a case out of the research work done. If the case written is found suitable and if so recommended by the RAC, a sum of Rs. 15,000 shall be paid. 
  5. The RA may be permitted to work from any location and will be remunerated only on satisfactory completion of work assigned as per terms specified in Para V (1) above.
  6. The RA shall be permitted to write an article out of the research work completed.  However, while doing so, RA shall clearly state that he / she is a Research Associate at NISM as a legend against author’s name.
  7. On completion of the research work as stated above, the RA will be issued certificate of appreciation by NISM.


By and large, research projects will be based on secondary data and NISM will facilitate procurement of such data. Further, NISM has subscriptions to E-views software and such other databases and access to the same will be provided to the research associate, if required. However, if any other software is required that is not available with NISM, the research associates will have to arrange for the same using their own resources.


  1. Interested candidates may submit their applications online in the prescribed format (Annexure-IIthrough the website www.nism.ac.in. Candidates are also required to submit a research proposal (as part of the online application) in the prescribed format on any of the topics as per the list enclosed in Annexure - I.
  2. The last date for seeking application is 23rd November 2020.  In case of any issues/difficulty in filling the application online, please feel free to connect with us at [email protected].
  3. Physical applications or applications that are incomplete, or without the research proposal, or received after the prescribed date, will not be considered.


  1. Mode of Selection shall be an interaction of the short-listed candidates with the RAC, which will mostly be web based. However, in case a physical interaction is required, outstation candidates will be reimbursed ‘Y’ Class Air fare for the to and fro journey, subject to submission of necessary documentary evidence.
  2. NISM reserves the right to reject any or all the applications without assigning any reasons, whatsoever, for the same. 
  3. NISM also reserves the right to modify / cancel the aforesaid advertisement at any point of time without giving any notice / reason. The decision of the Institute in all matters would be final and binding, and no correspondence in this regard would be entertained.

Click Here to Download Annexure-I

Click Here to APPLY (Annexure-II)

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